Zim heading for yet another cash crunch

[eugene]

I should clarify that John said it is the expendable lower admin people who will face the crunch, no mention of players.

[Kriterion_BD]

Yeah 20 years of Chingoka and Co stealing money and its the brown guys fault. Good one.

[TapsC]

http://www.herald.co.zw/zim-cricket-clarifies-reports/

I suspect that they are just waiting for their next payment from ICC coz I doubt they would have been given all that money in 1 go. The windies games probably cost them too much

[Jemisi]

Yeah 20 years of Chingoka and Co stealing money and its the brown guys fault. Good one.

+1

[DinRaat]

Whose Hhm.

No jokes please.

[eugene]

Pariah seems to have a problem with Pakistanis.

[Googly]

I would be very surprised if ZC weren’t being given the money for refurbishment of grounds separately. If it were not the case then surely choose grounds that don’t need much work?

[Googly]

I spoke to yet another disgruntled parent from an age group tour last year who was complaining bitterly about looting of tour funds (a portion of which were raised by the parents) by the tour manager. Same guy does it every year, gets reported, ZC get supplied the evidence of the theft, and the same guy gets the job the following year. I really don’t get this, he gets free rein to pilfer every year.
The man with the casting vote that first got Chingoka elected all those years ago. He will be at the annual trough again soon. I know it’s minor compared to the wholesale piggery that goes on at Board level, but nonetheless it’s bloody annoying.

[Googly]

When you get an organization getting this volume of Forex every year and they pay their ridiculous number of staff in local “currency” (we don’t have one, it appears in your account as a number that you use a debit card to swipe at stores that don’t really want it ) it causes problems. The problem is exacerbated when there is disparity between the rates. It’s now at about 50%, so essentially the buying power has been halved. We’re a retail outlet for South Africa and import practically everything. So what’s happened is that on half salary they essentially now have one quarter the buying power they had a few months ago. The guys at the bottom of the ZC food chain are the FC players. Crunch time is Nov/Dec/Jan because of Christmas, people wanting to go to their traditional home (kamusha) over the break and then of course school fees in January. There’s a big problem looming.

[Googly]

So with their huge monthly salary bill ZC will sell their Forex on the black market, pay staff and players in local Monopoly money and probably save half the amount in real terms yet there’s a cash flow crisis that requires half salaries? The salary bill will go in the books at full USD value. I wonder if the CEO has a clue what’s probably going on in the Finance Dept?